Nasdaq rebounds 1.73% as chip stocks recover, rate fears rise
In short
US stocks bounced back after a sharp selloff, and the Nasdaq rose 1.73%.
Chip stocks like Nvidia, AMD, Intel and Micron led the rebound, but strong October jobs data made investors worry again about a possible December Fed rate hike.
What the reporting says
US stocks rebounded as chipmakers recovered from Thursday’s steep AI-led selloff, lifting the Nasdaq 1.73%, according to an Economic Times Markets summary. Nvidia, AMD, Intel and Micron led the bounce, while stronger-than-expected October jobs data revived concerns about a December Fed rate hike. Airbnb rose after raising its full-year revenue growth forecast, while Atlassian fell.
Why it matters
US stocks recovered after Thursday’s AI-led drop, with the Nasdaq up 1.73% as chipmakers such as Nvidia, AMD, Intel and Micron led gains. The move followed stronger-than-expected October jobs data, which increased worries that the Fed could keep rates higher and may hike in December. Airbnb climbed after lifting its full-year revenue growth forecast, while Atlassian declined.